AM Best Affirms Credit Ratings of United Services Automobile Association, Its Subsidiaries and USAA Capital Corporation

OLDWICK, N.J., April 21, 2022–(Enterprise WIRE)–AM Finest has affirmed the Financial Toughness Rating (FSR) of A++ (Top-quality) and the Very long-Time period Issuer Credit history Ratings (Extended-Time period ICR) of “aaa” (Remarkable) of United Providers Auto Association (USAA) and its property/casualty (P/C) and lifetime/well being (L/H) subsidiaries. Concurrently, AM Ideal has affirmed the Extended-Term ICR and the Extended-Phrase Difficulty Credit rating Score (Extensive-Phrase IR) of “aaa” (Exceptional) on the medium-phrase take note plan and the senior unsecured medium-time period notes of USAA Money Corporation (USAA CAPCO). The outlook of these Credit history Rankings (rankings) is secure. In addition, AM Most effective has affirmed the Brief-Time period Situation Credit history Rating (Quick-Expression IR) of AMB-1+ (Strongest) on the business paper system of USAA CAPCO. USAA Constrained is domiciled in London, United kingdom all other firms are domiciled in San Antonio, TX, except if in any other case specified. (See under for a detailed listing of the companies and rankings.)

The ratings of USAA and its P/C affiliates, collectively referred to as USAA Group, replicate its stability sheet power, which AM Most effective assesses as strongest, as properly as its incredibly solid functioning overall performance, extremely favorable company profile and correct organization threat management (ERM).

USAA presents a numerous portfolio of goods via its P/C and L/H insurers, as perfectly as other money companies as a result of USAA Federal Price savings Bank, which support favorable consolidated functioning effects. Concentrated on the guidance of its 13 million associates, USAA Team ranks in the best 10 writers of P/C solutions in the United States, based mostly on premiums written, together with the leading 5 for private passenger car and homeowner’s insurance policy.

USAA Team has reported favorable earnings in the modern five-12 months period, irrespective of considerable catastrophe activity, thanks in aspect to initiatives implemented to battle increased losses in the personal auto line of company. On top of that, the organization’s concentrate on technological know-how and immediate-to-customer advertising has resulted in price ratios perfectly below AM Best’s own strains composite ordinary. Danger-modified capitalization is assessed at the strongest degree, as calculated by Best’s Capital Adequacy Ratio (BCAR), and supported by a conservative expenditure portfolio. Also, the business maintains favorable financial overall flexibility by obtain to Federal Home Bank loan Bank borrowings at the P/C and L/H insurance policy companies, and a medium-term notes method and industrial paper software held at USAA CAPCO.

The ratings of USAA Life Insurance plan Firm and its subsidiary, USAA Daily life Insurance Enterprise of New York (Highland Falls, NY), together referred to as USAA Daily life Team, replicate its stability sheet energy, which AM Finest assesses as quite robust, as well as its strong running functionality, favorable small business profile and correct ERM. The rankings also mirror USAA Lifestyle Group’s strategic job inside of the USAA organization, giving specific lifetime, annuities, and incident and wellness goods to USAA’s associates and the broader market as effectively. The lifetime group has sustained a prolonged-time period development in immediate high quality expansion, with profitability in the new 5-12 months period of time supporting capitalization.

The FSR of A++ (Top-quality) and the Very long-Phrase ICRs of “aaa” (Excellent) have been affirmed with secure outlooks for United Products and services Auto Association and its following P/C and L/H subsidiaries:

  • USAA Casualty Insurance policy Business

  • USAA Basic Indemnity Business

  • USAA Confined

  • USAA County Mutual Insurance coverage Firm

  • USAA Lifetime Insurance policies Business

  • USAA Life Coverage Corporation of New York

The pursuing indicative Long-Term IR underneath the common shelf registration has been affirmed with a steady outlook:

USAA Capital Corporation—
— “aaa” (Exceptional) on the senior unsecured medium-expression notice method

The next Lengthy-Expression IRs have been affirmed with secure outlooks:

USAA Capital Corporation—
— “aaa” (Excellent) on $500 million .5% senior unsecured medium-expression notes, because of 2024
— “aaa” (Outstanding) on $400 million 1.5% senior unsecured medium-term notes, thanks 2023
— “aaa” (Fantastic) on $400 million 2.125% senior unsecured medium-term notes, due 2030

The following Short-Term IR has been affirmed:

USAA Money Corporation—
— AMB-1+ (Strongest) on the commercial paper method

This push release relates to Credit rating Rankings that have been released on AM Best’s web page. For all ranking information and facts relating to the launch and pertinent disclosures, together with information of the place of work dependable for issuing just about every of the individual ratings referenced in this launch, make sure you see AM Best’s Latest Rating Activity world-wide-web website page. For extra information about the use and constraints of Credit score Score opinions, you should watch Guide to Best’s Credit history Rankings. For info on the right use of Best’s Credit history Scores, Best’s Efficiency Assessments, Best’s Preliminary Credit history Assessments and AM Finest press releases, remember to look at Guide to Appropriate Use of Best’s Rankings & Assessments.

AM Ideal is a world-wide credit history ranking agency, news publisher and details analytics supplier specializing in the insurance coverage field. Headquartered in the United States, the firm does business enterprise in above 100 nations around the world with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico Town. For far more details, stop by

Copyright © 2022 by A.M. Ideal Score Products and services, Inc. and/or its affiliates. ALL Legal rights RESERVED.

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Robert Valenta, CPCU
Senior Monetary Analyst
+1 908 439 2200, ext. 5291
[email protected]

Christopher Sharkey
Supervisor, Community Relations
+1 908 439 2200, ext. 5159
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Greg Williams
Senior Director
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Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
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